CoinEx Halts Operations Amid Cryptocurrency Market Downturn
Hong Kong-based crypto exchange CoinEx has announced that it will cease operations due to prolonged market downturn. The decision comes as Bitcoin languishes near two-year lows of around $60,000, down roughly 50% from its peak of nearly $130,000 in October 2025.
CoinEx cited 'prolonged weakness in the cryptocurrency market' and 'continuously rising regulatory requirements across major jurisdictions' as reasons for shutting down. The exchange said it will gradually cease services from September 15, 2026, with withdrawal services available until December 22.
Average daily Bitcoin spot trading volume fell to around $1.8 billion in August, its lowest since November 2023. Research head Justin d'Anethan noted that 'volumes in crypto markets have been so anemic that there's probably no money to be made and so operations aren't sustainable.'